Horizon Oil has delivered strong oil production from its stakes in the Maari and Manaia fields, New Zealand, with 310,122 barrels of oil recorded in the company’s 2020 half year report.
The company recorded a gross production rate of 6482 barrels of oil per day, 11 per cent higher compared to the 2019 half year report, due to well optimisation.
Horizon reported that the joint venture (OMV 69 per cent, Horizon 26 per cent, Cue Taranaki 5 per cent) would continue its focus on production optimisation and life extension planning to 2031 and beyond, following its strong production performance.
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